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Ichimoku Indicator

27.07.202218:10 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on EURUSD for July 27th, 2022.

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EURUSD is under pressure. Price has entered the Ichimoku cloud and turned short-term trend to neutral. Price is now challenging the lower cloud boundary. EURUSD is very close to providing a bearish signal. Support by the Kumo is at 1.011. A 4 hour candlestick close below the Kumo would be a sign of weakness. Price yesterday broke out of the consolidation range to the downside. In Ichimoku cloud terms this is depicted with price penetrating the cloud. Price has started making lower lows and lower highs 4 hour candlesticks. Resistance is at 1.0178. Bulls need to recapture this level in the 4 hour chart in order to regain control of the trend.

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